9,942 Shares in Otis Worldwide Corporation $OTIS Purchased by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC purchased a new stake in shares of Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,942 shares of the company’s stock, valued at approximately $712,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Garton & Associates Financial Advisors LLC bought a new stake in shares of Otis Worldwide in the 4th quarter worth approximately $27,000. MidFirst Bank bought a new position in shares of Otis Worldwide during the second quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Otis Worldwide in the second quarter worth $28,000. Elevation Wealth Partners LLC lifted its stake in Otis Worldwide by 1,910.0% in the second quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after acquiring an additional 382 shares during the period. Finally, Addison Advisors LLC bought a new stake in Otis Worldwide in the second quarter valued at $29,000. Institutional investors own 88.03% of the company’s stock.

Otis Worldwide Price Performance

Shares of NYSE OTIS opened at $71.77 on Monday. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The stock has a market cap of $27.32 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89. The firm has a 50-day moving average of $72.54 and a 200 day moving average of $76.94.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Otis Worldwide had a net margin of 10.17% and a negative return on equity of 28.50%. Otis Worldwide’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. Research analysts expect that Otis Worldwide Corporation will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s payout ratio is currently 45.24%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore reissued an “outperform” rating and set a $95.00 price objective on shares of Otis Worldwide in a research report on Thursday, July 23rd. Sanford C. Bernstein reduced their target price on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 target price on Otis Worldwide in a research report on Tuesday, July 28th. Morgan Stanley set a $75.00 target price on Otis Worldwide in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.91.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.